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Colorcon Ventures looks to fund promising startups in drug manufacturing, delivery, and supply chain.
Colorcon, a developer of advanced coating systems, modified-release technologies, and functional excipients for pharmaceuticals, announced on Sept. 17, 2019 the establishment of a $50 million venture fund to invest in startup companies developing technologies to advance manufacturing, supply chain, and delivery of pharmaceutical products and services.
Colorcon Ventures is a $50 million venture fund focused on startups that are “strategically relevant to the core Colorcon business,” the company reported in a Sept. 17, 2019 press announcement. The fund will focus on early and mid-stage companies that demonstrate revenue growth; however, it will not invest in companies developing active ingredients or molecules.
The fund will invest in startups where Colorcon can add subject-matter expertise or commercial relationships, as well as leverage Colorcon’s global reach, industry relationships, and R&D approach, the press statement noted.
Touchdown Ventures, a corporate venture capital firm, will work with Colorcon senior executives to manage the fund.
“We are excited to launch this venture fund to support the growth of startup companies in the pharmaceutical and healthcare industries,” said Martti Hedman, CEO of Colorcon, in the press release. “Colorcon has a rich history of innovation and we believe this fund will allow us to continue to serve our customers by partnering with startups.”
“The promise of corporate venture capital is to bring more than just money to the table. A successful corporate investor can generate meaningful value by facilitating commercial relationships with its portfolio companies. We believe that Colorcon Ventures, through close association to the senior executive and business units of Colorcon, is well poised to accomplish this goal,” said David Horowitz, CEO of Touchdown, in the press release.
Source: Colorcon Ventures